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UNITED PRESS NEWS R1EFS Warns on Air Reduction ReductionWASHINGTON WASHINGTON D C June 5 Senators were told today that Gen Curtis E Lemay believes proposed reductions in his big bomber strategic air command may involve an unacceptable risk for the United States and its Allies AlliesEight Eight MIGS Shot Down SEOUL Korea June 5 Allied sabre jets shot down eight Communist MIGs today probably destroyed one and damaged five more in lowlevel air battles near the Suiho reservoir reservoirJebb Jebb on Red China Admission AdmissionHAVERFORD HAVERFORD Pa June 5 Sir Glad wyn Jebb Britains chief delegate to the United Nations said today it was not very logical to refuse to contemplate the admission of Communist China in the world organization and at the same time accept Russias presence there thereODwyer ODwyer Denies Oil Deal MEXICO CITY Mexico June 5 Former Ambassador William ODwyer last night denied reports that he had negotiated an oil deal and that the transaction was being investigated by Sen Joseph R McCarthy RWisFolsom RWis Folsom on Profits Tax TaxWASHINGTON WASHINGTON D C June 5 Treas ¬ ury Undersecretary Marion B Folsom said today a Korean truce would have no bear ¬ ing on President Eisenhowers request for extension of the excess profits tax taxCrowds Crowds Cheer Elizabeth ElizabethLONDON LONDON England June 5 Huge crowds tiedup central Londons traffic early today to cheer Queen Elizabeth II three days after her coronation formally launched the second Elizabethan era eraAdvises Advises Economy ANNAPOLIS Md June 5 Sen Leverett Saltonstall RMass told the graduating class of the United States Naval Academy today they should practice economy in the service and strive for friendly ties with other free nations nationsDeGasperi DeGasperi Supporter Dies DiesROME ROME Italy June 5 A supporter of Premier Alcide DeGasperi died today from injuries inflicted by a Leftist and ijplice were alerted to prevent new violence in final rallies xfor Sundays parliamentary elections electionsDeny Deny Rosenberg Execution Stay StayNEW NEW YORK N Y June 5 A three man Court of Appeals denied a stay of exe ¬ cution today for atom spies Julius and Ethel Rosenberg whose death in the elec ¬ tric chair has been set for June 18 The court had rejected three previous appeals brought by Emanuel Bloch attorney for the convicted couple